Quick Overview

• The U.S. gross domestic product probably grew at an annual rate close to 5% in the first quater, which would be the fastest growth in 10 quarters.
  

• Japan's service industry index, was down 1.5% in February.
  

• Consumer spending in France was down 0.6% in March.
  

• Canadian consumer spending was down 0.4% in February.
  

• Taiwan’s unemployment rate improved from 3.92% to 3.87% in March.
  

• Crude-oil prices broke through $75 a barrel to hit a new record.
  

• Sweden said it had cut the dollar share in its foreign exchange reserves and Russia's finance minister questioned the dollar's preeminence as the global reserve currency.
  

• Copper rallied above $3 a pound to close its highest level on record.
  

• The USDA said there were 11.812 million head of cattle on feed on April 1st, up 8.6% YoY. March placements were up 5% YoY.
  

• The USDA said there were 67.8 million pounds of frozen pork bellies in storage, down 17% YoY. Frozen pork totaled 499.4 million pounds, down 8% YoY.
  

• The U.S. cocoa grind totaled 104,690 tons in the first quarter of 2006, up 2.7% YoY.
  
  

• The USDA said there were 1.01 billion pounds of frozen orange juice concentrate in storage on March 31st, down 36% from a year ago.